- Mortgages
- Remortgages
- Bad Credit Mortgages
- Buy to Let Mortgages
- Life Insurance
- Home Ins
- Utility Switch
- Credit Check
- Conveyancing
- About Us
- Terms and Conditions
- Privacy Policy
- Contact Us
- Accessibility
- Site Map
- Mortgage Site Map
- Life Insurance Site Map
- News 2013
- News Achieve 2012
- News Achieve 2011
- News Achieve 2010
- News Achieve 2009
- News Achieve 2008
- News Achieve 2007
- Insurance News Achieve
- Articles Archive
- Recruitment
- ©Copyright 2023
Average 90% Mortgage LTV rates tumble
The average rate of a 90% loan-to-value mortgage has fallen steadily over the past five years to just 5.44%. The number of 90% deals has, in turn, increased from just 76 in May 2009 to 299 today.
|
Average 90% LTV rate |
Number of 90% mortgages |
Today |
5.44% |
299 |
May 2011 |
5.98% |
238 |
May 2010 |
6.38% |
183 |
May 2009 |
6.09% |
76 |
May 2008 |
6.61% |
468 |
May 2007 |
6.05% |
761 |
Source: Moneyfacts.co.uk 15.5.12 |
||
Louise Holmes, spokesperson for Moneyfacts.co.uk, commented: “At the peak of the mortgage crisis, the majority of lenders withdrew their high LTV mortgage products, leaving prospective homeowners high and dry with no hope of affording the large deposits required.
“The rising cost of living and unemployment has also had a massive impact on prospective buyers’ ability to save for their first home.
“Demand for high LTV mortgages is, and always will, be high. Lenders have shown they recognise this by edging cautiously back into this area of the market with some competitive deals of late. However, strict underwriting and credit checks mean that approvals are at a premium.
“News of increased choice and lower rates in this sector of the mortgage market will be music to the ears of potential borrowers, whose voices finally appear to have been heard.”
Moneyfacts Group
Moneyfacts is the UK’s leading independent provider of personal financial information and our data is used and trusted throughout the financial industry.
Think carefully before securing other debts against your home, your home may be repossessed if you do not keep up repayments on your mortgage.
Go Direct.co.uk is a trading style for website purposes of Go Direct UK Ltd.
Go Financial Services is a trading style of Go Direct UK Ltd which is an appointed representative of Personal Touch Financial Services Ltd which is authorised and regulated by the Financial Conduct Authority. Registered in England & Wales Company 5703224. FCA Number 456600
We normally do not charge a fee for mortgage advice, however this is dependent on your circumstances. Our typical fee would be £349